Eurasian Economic Commission and the World Bank Initiate Joint Analytical Work on Creating the Eurasian Economic Union Digital Space

November 17, 2016

Moscow, November 17, 2016 – This week the Eurasian Economic Commission (EEC) and the World Bank have signed an agreement to implement a joint research project on reaping the economic benefits from creating a shared digital space in the Eurasian Economic Union (EAEU) countries, including through development of shared digital platforms.

The project is to provide information and analytical support to joint efforts taken by the EEC and the EAEU countries within the Working Group for Preparing Proposals on Digital Space Creation in the Eurasian Economic Union established by the EEC Board decision on March 17, 2016.

Estimating the potential economic effects of the EAEU digital space creation will be one of the key results of this joint analytical work. The results are going to be submitted to the EAEU authorities for review in the beginning of 2017.

“Cooperation with the World Bank is important for conducting an objective and independent assessment of the digital development level, as well as forecasting digital effects on socioeconomic development of the EAEU states produced by joint efforts to create the EAEU digital space,” said Karine Minasyan, ECC Member of the Board (Minister) for Internal Markets, Computerization, and ICT.

 “The World Bank is pleased to work with the EEC on the digital agenda, as well as to foster cooperation in areas of mutual interest. We hope that the collaboration launched this week will help the Eurasian Economic Union countries reap what we called “digital dividends” in the latest Bank’s World Development Report,” noted Andras Horvai, World Bank Country.

World Development Report 2016 Digital Dividends documents a number of examples where the internet, mobile phones, and related technologies have promoted inclusion, efficiency and innovation. In many instances, this has allowed businesses to get more productive, people to find new opportunities, and governments to improve their operations. The payoff: faster growth, more jobs, and better services.

The joint analytical work includes two stages, with the second stage to be completed in April 2017.